Articles by Christopher Jeffery
Policy-making amid war in Gaza
Bank of Israel has implemented a textbook crisis response, but uncertainty remains
Karnit Flug on the Bank of Israel’s emergency responses and challenges ahead
The former Israeli central bank governor and current vice-president of the Israel Democracy Institute speaks with Christopher Jeffery about the BoI’s targeted emergency responses, economic uncertainties and central banking independence
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
IMF’s Adrian says world needs $5 trillion annual climate funding by 2030
Multilateral banks working to ‘crowd in’ private finance to meet need
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the 'singleness of money'
Stefan Ingves on central bank failings on inflation and financial stability
Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, and the need for explicit legal definitions for digital money
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Ecuador’s general manager speaks about bolstering legal autonomy, dollarisation, payments and gold production
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about governance, managing a currency board and modernising payments
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance, bank regulatory reforms, and daily UPI payments hitting 300 million transactions
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
IMF’s financial counsellor discusses the need for action on run rate assumptions, interest rate risk, deposit insurance and crypto regulation
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
Thai governor speaks about higher inflation, sustainable finance challenges, CBDC experiments and payments governance
Stefan Ingves on leadership, prudential oversight and transparency
Riksbank veteran talks about Basel III, policy lessons and CBDCs
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Favours risk-management approach to policy and less emphasis on baseline forecasts that give false assurances
Chile’s Costa on tackling inflation, forex interventions and nowcasting
Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
BAM governor speaks about Covid-19, Fed tightening, BIS membership, regional co-operation and inclusion
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Diego Labat on policy normalisation, capital flows and tech challenges
Uruguay governor speaks about financialisation, flexible rates vs controls, payment upgrades and CBDCs